UDN vs. ED
UDN (Invesco DB US Dollar Index Bearish Fund) is Currency fund tracking the Deutsche Bank Short USD Currency Portfolio Index, while ED (Consolidated Edison, Inc.) is a stock. Over the past 10 years, UDN returned -0.36%/yr vs 6.87%/yr for ED. Their 0.12 correlation means their historical movements had little consistent relationship.
Performance
UDN vs. ED - Performance Comparison
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Returns By Period
In the year-to-date period, UDN achieves a -0.66% return, which is significantly lower than ED's 11.38% return. Over the past 10 years, UDN has underperformed ED with an annualized return of -0.36%, while ED has yielded a comparatively higher 6.87% annualized return.
UDN
- 1D
- 0.06%
- 1M
- 1.17%
- 6M
- -1.95%
- YTD
- -0.66%
- 1Y
- 0.62%
- 3Y*
- 2.88%
- 5Y*
- -0.30%
- 10Y*
- -0.36%
- ALL TIME*
- -0.73%
ED
- 1D
- -0.74%
- 1M
- -4.51%
- 6M
- 3.74%
- YTD
- 11.38%
- 1Y
- 7.69%
- 3Y*
- 8.94%
- 5Y*
- 11.93%
- 10Y*
- 6.87%
- ALL TIME*
- 7.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $262.57M | $242.22M | $266.23M | |
| $1.67M | $1.52M | $2.03M |
UDN vs. ED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UDN Invesco DB US Dollar Index Bearish Fund | -0.66% | 12.37% | -4.53% | 4.88% | -7.96% | -7.03% | 6.20% | -0.97% | -5.02% | 9.50% |
ED Consolidated Edison, Inc. | 11.38% | 15.15% | 1.55% | -1.12% | 15.65% | 22.96% | -16.99% | 22.54% | -6.62% | 19.30% |
Correlation
The correlation between UDN and ED is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2007 | 0.12 |
The correlation between UDN and ED shifts across timeframes, from -0.00 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UDN vs. ED — Risk / Return Rank
UDN
ED
UDN vs. ED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and Consolidated Edison, Inc. (ED). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UDN | ED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 0.90 | -0.55 |
| Martin ratioReturn relative to average drawdown | 0.69 | 1.87 | -1.18 |
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Drawdowns
UDN vs. ED - Drawdown Comparison
The maximum UDN drawdown since its inception was -41.67%, smaller than the maximum ED drawdown of -78.90%. Use the drawdown chart below to compare losses from any high point for UDN and ED.
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Drawdown Indicators
| UDN | ED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -78.90% | +37.23% |
Max Drawdown (1Y)Largest decline over 1 year | -5.13% | -9.63% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -17.36% | +8.77% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -22.03% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -25.72% | -30.91% | +5.19% |
Current DrawdownCurrent decline from peak | -27.74% | -4.94% | -22.80% |
Average DrawdownAverage peak-to-trough decline | -20.67% | -13.22% | -7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 4.63% | -1.99% |
Volatility
UDN vs. ED - Volatility Comparison
The current volatility for Invesco DB US Dollar Index Bearish Fund (UDN) is 1.53%, while Consolidated Edison, Inc. (ED) has a volatility of 6.20%. This indicates that UDN experiences smaller price fluctuations and is considered to be less risky than ED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDN | ED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 6.20% | -4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 4.09% | 13.05% | -8.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 17.21% | -11.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.42% | 18.85% | -11.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.84% | 21.06% | -14.22% |
Dividends
UDN vs. ED - Dividend Comparison
UDN's dividend yield for the trailing twelve months is around 2.96%, less than ED's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ED Consolidated Edison, Inc. | 3.19% | 3.42% | 3.72% | 3.56% | 3.32% | 3.63% | 4.23% | 3.27% | 3.74% | 3.25% | 3.64% | 4.05% |
UDN Invesco DB US Dollar Index Bearish Fund | 2.96% | 2.94% | 5.33% | 5.21% | 0.69% | 0.00% | 0.00% | 1.38% | 1.26% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
UDN and ED have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ED has higher volatility (6.20%) compared to UDN (1.53%). In terms of maximum drawdown, UDN dropped -41.67% vs ED's -78.90%.
ED currently has the higher Sharpe Ratio (0.51 vs 0.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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